> For the complete documentation index, see [llms.txt](https://maxim-speransky.gitbook.io/doc/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://maxim-speransky.gitbook.io/doc/gitbook-vaults/gitbook-core-vault.md).

# Core Vault

Core Vault is a conservative yield strategy with a capital-preservation mandate. It allocates capital only to robust markets backed by a limited set of Blue-chip collateral assets that meet the framework's strictest eligibility standards.

**Blue-chip** identifies the most conservative collateral group: native cryptoassets such as BTC and ETH and approved wrapped representations such as cbBTC.

## Vault Details

| Field         | Value                                                                                                                                                      |
| ------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Vault address | [`0xfB350100ae7cd341ad657A663CA2f3D37d492D3e`](https://app.morpho.org/base/vault/0xfB350100ae7cd341ad657A663CA2f3D37d492D3e/speransky-blue-chips#overview) |
| Chain         | Base                                                                                                                                                       |
| Loan asset    | USDC                                                                                                                                                       |
| Status        | Live                                                                                                                                                       |

## On-chain Controls

> On-chain controls constrain changes that could expand exposure, alter fees, or weaken operational safeguards. Morpho remains the source of truth for live allocations, cap values, fees, roles, and adapter configuration.

### Public Access Without KYC

Anyone can deposit, transfer shares, and withdraw assets. No KYC or allowlist is applied.

| Control               |    Timelock |
| --------------------- | ----------: |
| `Receive Assets Gate` | `Abdicated` |
| `Receive Shares Gate` | `Abdicated` |
| `Send Shares Gate`    | `Abdicated` |
| `Send Assets Gate`    |      7 days |

### Exposure Increases Require a Conservative Review Window

|                         |        |
| ----------------------- | -----: |
| `Increase Relative Cap` | 7 days |
| `Increase Absolute Cap` | 7 days |

### Allocation Perimeter Changes

|                  |        |
| ---------------- | -----: |
| `Add Adapter`    | 7 days |
| `Remove Adapter` | 7 days |

### Fee Changes

|                   |        |
| ----------------- | -----: |
| `Management Fee`  | 3 days |
| `Performance Fee` | 3 days |

### Exit Protection

|                                |       |
| ------------------------------ | ----: |
| `Set Force Deallocate Penalty` | 1 day |

### Governance Hardening Requires Delay

|                     |        |
| ------------------- | -----: |
| `Increase Timelock` | 7 days |
| `Abdicate`          | 7 days |